Century Pacific Food, the Philippines-based manufacturer, is building a new tuna plant as it forecasts rising demand for the food over the next five years.

The company is setting up the factory in General Santos City in the south of the country. Century Pacific expects the project to be completed by the end of next year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Century Pacific said it is seeing “robust sales and rising demand” for tuna products locally and abroad, although the majority of the group’s tuna sales are made in the Philippines.

The project is part of an estimated PHP1.5-1.8bn (US$28.1-33.7m) Century Pacific has earmarked for capital expenditure in 2018, based on its spending in 2017 and in the first quarter of this year. The bulk of the capex is to go on the new factory.

The plan for the new plant was confirmed in a stock-exchange filing after local media reports carried quotes from executive chairman Christopher Po after the company’s AGM, in which he detailed the plans for the new factory and outlined the company’s overall growth targets for the next decade.

Po reportedly said the new facility was part of Century Pacific’s plans to grow by 10-15% in the next decade.

In the filing, Century Pacific said: “The growth targets of 10-15% are also only estimates based on a formula of growing approximately two times the Philippines’ Gross Domestic Product rate.”

In 2017, Century Pacific generated consolidated revenues of PHP34.5bn, up 22% year-on-year.

Profits fell 4% to PHP2.55bn amid higher raw-material prices.